Producing no evidence may imply responsibility
If a party to any action does not produce any evidence in a damages case, it may implicitly admit to responsibility. This was held in…
INDIVIDUAL INVESTOR PROGRAMME SCHEME
Malta introduced a citizenship scheme known as the Individual Investor Programme of the Republic of Malta (IIP). The scheme grants Maltese citizenship by a certificate of naturalisation to non-Maltese nationals and their dependants who contribute to the economic development of Malta. The scheme was introduced by means of a Subsidiary Legislation issued under the Maltese Citizenship Act, Chapter 188 of the Laws of Malta.
Qualifications and General Requirements
To qualify as a main applicant for the IIP one must at least be 18 years of age. The applicant must provide proof of having been a resident of Malta for a period of 12 months preceding the issuing of a certificate of naturalisation and meet the following investment requirements:
- The acquisition of real estate with a minimum value of EUR 350,000 to be held for at least 5 years;
- or Lease a residential immovable property in Malta for a period of 5 years, at an annual rent of at least EUR 16,000; and
- Make a contribution to the National Development and Social Fund; and
- An investment in stocks, bonds or special purpose vehicles to be identified by Identity Malta, for a minimum value of EUR 150,000 to be held for a minimum period of 5 years.
Applications shall be made on the forms prescribed under the IIP regulations and shall be accompanied by the prescribed due diligence and bank charges fees, and by the following documents:
- A certificate in the form prescribed by Identity Malta from a reputable health system to the satisfaction of Identity Malta that the main applicant and his dependants are not suffering from any contagious disease and that they are otherwise in good health;
- A police certificate or certificates, which may however also be submitted subsequently at a later date but in any case before the application is approved;
- Evidence, through due diligence processes, that the main applicant and his dependents are fit and proper persons to hold Maltese citizenship;
- An undertaking to remit the total of the required contribution, less the non-refundable payment already made at the time of submission of the application, of the amount ass specified hereunder, when called to do so by Identity Malta;
- An affidavit of support for each dependent who is over 18 years of age;
- Any other document as may be required from time to time by notice issued by Identity Malta.
Eligibility Criteria
In addition to the qualifications and general requirements set out above, the minimum eligibility criteria for an application under the programme, for the applicant and any of his dependants, shall be as follows:
- A proper background verification of the applicant and his dependants over the age of twelve years, as the case may be;
- A police certificate issued by the Malta police as well as a police certificate issued by the competent authorities in the country of origin and in the country or countries of residence where the applicant has resided for a period of more than six months during the last ten years;
- The applicant and, or any of his dependents are not individuals indicted before an International Criminal Court or who appeared at any time before an International Criminal Court, whether such persons have been found guilty or otherwise by such Court;
- The applicant and, or any of his dependents, shall not he persons listed with the International Criminal Police Organisation (INTERPOL) at the time of application;
- The applicant and, or any of his dependents is not, or may not be a potential threat to national security, public policy or public health;
- The applicant and/ or any of his dependents shall not be an individual who, at any time, had pending charges related to crimes of terrorism, money laundering, funding of terrorism, crimes against humanity, war crimes, or crimes that infringe upon such Protection of Human Rights and Fundamental Freedoms as established by the European Convention on Human Rights, or who has been guilty of any such crimes;
- The applicant and, or any of his dependents shall not be an individual who has been found guilty or has charges brought against him regarding any of the criminal offences that disturb the good order of the family, which criminal offences include, without limitation, the following:
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- paedophilia;
- defilement of minors;
- rape;
- violent indecent assault;
- inducing persons under age to prostitution; and
- abduction.
8. The applicant and, or any of his dependents shall not be an individual who at any time was found guilty, or, at the time of the application, is being interrogated and suspected, or has criminal charges brought against him for any criminal offence, other than an involuntary offence, punishable with more than one year imprisonment. The applicant shall attach with his application a sworn declaration before a commissioner for oaths, lawyer or notary public that the said information that he has provided is true and correct.
The Application Process
Every application shall be presented to, and examined by, Identity Malta, either directly or through the concessionaire. The application must be presented through an approved agent and a non-refundable payment of €10,000 must be made. Mifsud & Mifsud Advocates is an approved agent and is authorised to submit and handle all IIP applications.
Identity Malta shall within 90 of the presentation of an application verify that the application is in order and that all the necessary due diligence has been carried out.
Within 30 from the date of the completion of the verification referred to above, Identity Malta will notify the Approved Agent in writing on whether the application has been accepted or refused. At this stage, Identity Malta may also inform the Approved Agent that the application is still in process.
In the event that the application is approved Identity Malta will issue a letter of approval to the main applicant informing him that he must provide evidence of a global health insurance policy coverage for at least EUR 50,000 for the main applicant and each of the dependants and must give proof that they can maintain the same for an indefinite period. The applicant must also within 4 months from the date of the said letter provide a written undertaking to acquire and hold a residential immovable property as described above. The property purchased or taken on lease may not be sub-let and such property shall be retained by the applicant for a period of at least 5 years from the date of purchase or lease. The applicant must also within 4 months provide a written undertaking that he will make such other investments, in Malta in, amongst others, stocks, bonds, and debentures.
Once the application has been accepted the applicant must, within 5 days, remit the contribution which is to be received within 20 days from such instruction. After all the above requirements have been satisfied Identity Malta will notify the Minister to issue a certificate of naturalisation.
Mifsud & Mifsud Advocates offers full support to its clients in obtaining a naturalisation certificate by preparing and coordinating all the relative paperwork with the relevant authorities.
Mifsud & Mifsud Advocates is an Approved Agent with an extensive experience in this field, offering extremely competitive fees for its services.
